CWU Audit Opinion and Internal Control Report

Description

hey,Each of the following is separate discussion board post, Each post is about 200 words

————————————————————How Would You Write the Audit Opinion and Internal Control Report (1 of 3)
Based on the following, if you were the auditor, what would your conclusions/recommendations be? What would you state in your audit report?Materiality is $120 millionAudit Findings:Cash reconciliations not performed until 5 months late, but were caught up by year-end. At one point in time, the unreconciled balances totaled $1.4 billion. Financial statements had some minor differences before being provided to the auditorsFinancial statements were fairly stated at year-endEntity adopted new SFFAS this year that significantly changed the reporting structure——————————————————————————————————————————-How would you write the audit opinion and internal control report (2 of 3)?Based on the following, what would your conclusions/recommendations be? How would you write the audit opinion and internal control report?Materiality is $120 millionAudit Findings:Audit could not be completed in time due to financial statement preparation weaknessesLarge numbers of disbursements without supporting documentation (approximately $275 million)——————————————————————————————————————————-How would you write the audit opinion and internal control report (3 of 3)?Based on the following, what would your conclusions/recommendations be? How would you write the audit opinion and internal control report? Materiality is $120 millionAudit Findings:Major problems after implementing a new financial accounting systemProblems with locating supporting contract informationFinancial statements were fairly stated after material auditor adjustments.

Explanation & Answer:
600 words

Tags:
Financial Statements

audit opinion

internal control report

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